K2M Group Holdings, Inc. (KTWO) Earns “Outperform” Rating from JMP Securities
K2M Group Holdings, Inc. (NASDAQ:KTWO)‘s stock had its “outperform” rating reaffirmed by JMP Securities in a research report issued on Tuesday. They presently have a $25.00 target price on the medical device company’s stock, down from their previous target price of $30.00. JMP Securities’ target price points to a potential upside of 38.81% from the company’s previous close.
Several other research firms have also issued reports on KTWO. Piper Jaffray Companies reissued an “overweight” rating and set a $28.00 price target on shares of K2M Group Holdings in a research report on Tuesday. Oppenheimer Holdings, Inc. set a $29.00 price target on K2M Group Holdings and gave the company a “buy” rating in a research report on Wednesday, August 2nd. Royal Bank Of Canada reissued a “buy” rating and set a $26.00 price target on shares of K2M Group Holdings in a research report on Friday, September 22nd. Zacks Investment Research raised K2M Group Holdings from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a research report on Wednesday, October 4th. Finally, Wells Fargo & Company dropped their price target on K2M Group Holdings from $28.00 to $23.00 and set an “outperform” rating on the stock in a research report on Tuesday. One analyst has rated the stock with a sell rating, one has assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. K2M Group Holdings currently has a consensus rating of “Buy” and a consensus price target of $25.60.
Shares of K2M Group Holdings (KTWO) traded up 1.35% on Tuesday, reaching $18.01. 1,710,341 shares of the company were exchanged. The stock’s market capitalization is $779.26 million. The company has a 50-day moving average price of $22.10 and a 200 day moving average price of $22.53. K2M Group Holdings has a 1-year low of $16.32 and a 1-year high of $25.99.
K2M Group Holdings (NASDAQ:KTWO) last posted its quarterly earnings results on Tuesday, August 1st. The medical device company reported ($0.21) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.22) by $0.01. The business had revenue of $65.70 million for the quarter, compared to analyst estimates of $66.26 million. K2M Group Holdings had a negative return on equity of 15.45% and a negative net margin of 16.21%. The business’s revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.27) EPS. On average, analysts forecast that K2M Group Holdings will post ($0.81) EPS for the current fiscal year.
In other K2M Group Holdings news, CFO Gregory S. Cole sold 39,357 shares of the stock in a transaction on Friday, August 11th. The stock was sold at an average price of $23.37, for a total value of $919,773.09. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Gregory S. Cole sold 2,350 shares of the stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $24.08, for a total value of $56,588.00. Following the completion of the sale, the chief financial officer now directly owns 55,158 shares in the company, valued at $1,328,204.64. The disclosure for this sale can be found here. Insiders sold 44,129 shares of company stock worth $1,033,644 over the last ninety days. 5.80% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. BNP Paribas Arbitrage SA increased its position in K2M Group Holdings by 5,175.3% in the second quarter. BNP Paribas Arbitrage SA now owns 4,484 shares of the medical device company’s stock worth $109,000 after buying an additional 4,399 shares during the period. Legal & General Group Plc increased its position in K2M Group Holdings by 9.1% in the first quarter. Legal & General Group Plc now owns 6,763 shares of the medical device company’s stock worth $138,000 after buying an additional 564 shares during the period. Dorsey & Whitney Trust CO LLC acquired a new stake in K2M Group Holdings in the second quarter worth $211,000. Symphony Asset Management LLC acquired a new stake in K2M Group Holdings in the second quarter worth $351,000. Finally, American International Group Inc. increased its position in K2M Group Holdings by 7.1% in the first quarter. American International Group Inc. now owns 15,847 shares of the medical device company’s stock worth $325,000 after buying an additional 1,047 shares during the period. 97.86% of the stock is currently owned by hedge funds and other institutional investors.
About K2M Group Holdings
K2M Group Holdings, Inc is a medical device company focused on designing, developing and commercializing spine and minimally invasive technologies and techniques. The Company’s solutions are focused on achieving three-dimensional Total Body Balance. Its spine products are used by spine surgeons to treat spinal pathologies, such as deformity (primarily scoliosis), trauma and tumor.
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